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    Letter from the Chairman
    Dear Investors,
    It is with great pleasure that I invite you to become a shareholder in Austral Resources Australia Limited
    (Austral). Investing in Austral means you will hold shares in a LME quality copper cathode producing
    company that is developing a new open pit copper mine and also has 1,340 km2 of highly prospective
    exploration tenements near Mount Isa, northwest Queensland. Some of these tenements have
    advanced exploration status.
    While the mine life from the Anthill copper oxide deposit is estimated at 4 years, successful exploration
    efforts will allow us to extend this time period. This is an opportunity for investors to invest in a company
    already producing copper with significant Ore Reserves in the Anthill project only 45 kilometres away
    from the Mt Kelly processing facility. The facility has crushing equipment, heap leach pads, solvent
    extraction, electrowinning and infrastructure assets in place, with proven capability to process the
    Anthill Project. The senior management team has a strong focus on operations and extending the mine
    life with new copper discoveries.
    Our sales contracts are in place and the price for copper has a positive outlook, based on analyst
    reports and underlying copper demand building from the global push towards decarbonisation –
    renewable energy and electric vehicles.
    Austral’s Mt Kelly copper processing facility is located approximately 120 kilometres north of Mount Isa,
    a well-known copper district in Queensland. We are in good company with Glencore and other major
    miners close by, ensuring access to contractors and skilled staff. The previous owners of the assets
    made multi-million dollar investments in plant and equipment, exploration and successfully mined
    a number of areas.
    Upon listing of Austral, we will apply the funds to make our capital structure more efficient and
    commence development of the Anthill Project. With a JORC compliant Ore Reserve of 5.06Mt @0.94%
    copper, Anthill holds 47,500t of contained copper that is capable of producing 40,000t of copper
    cathode over a four year period. All aspects of the mine have been studied and costed, including
    rehabilitation.
    This Prospectus contains detailed information about the offer, as well as risks associated with an
    investment in the Company. Potential investors are encouraged to read it carefully before making
    a decision on whether to invest.
    On behalf of the board, I look forward to welcoming you as a shareholder in Austral.

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